BEIJING, July 9 /PRNewswire-FirstCall/ -- American Dairy, Inc. (NYSE:ADY) (the "Company"), one of the leading producers and distributors of infant formula, milk powder and soybean and walnut products in China, today announced it has engaged Deloitte Touche Tohmatsu CPA Limited (Beijing) ("DTTC") for consulting related to Sarbanes-Oxley compliance.
The services DTTC will provide include assessing the documentation related to American Dairy's existing business processes as well as assisting with the Company's internal control over financial reporting framework. DTTC will also assist the Company with the identification and documentation of the Company's internal control over financial reporting objectives and perform an evaluation of design effectiveness.
Mr. Leng You-Bin, the Chairman and Chief Executive Officer of American Dairy stated, "We are committed to continually refining our corporate governance practices. We expect that DTTC's experience and insights in assisting public companies will serve to further strengthen our accounting and finance infrastructure and internal controls over financial reporting." About American Dairy, Inc.
American Dairy, Inc. conducts operations in The People's Republic of China ("China") through its wholly owned subsidiary, Feihe Dairy. Founded in 1962, Feihe Dairy is one of the leading producers and distributors of infant formula, milk powder and soybean and walnut products in China. Feihe Dairy is headquartered in Beijing, China, and has processing and distribution facilities in Kedong, Qiqihaer, Baiquan, Gannan, Shanxi, and Langfang, http://www.americandairyinc.com/ / http://www.feihe.com/ Certain of the statements made herein constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements typically involve risks and uncertainties and may include financial projections or information regarding our future plans, objectives or performance. Actual results could differ materially from the expectations reflected in such forward-looking statements as a result of a variety of factors, including the risks associated with the effect of changing economic conditions in The People's Republic of China, variations in cash flow, reliance on collaborative retail partners and on new product development, variations in new product development, risks associated with rapid technological change, and the potential of introduced or undetected flaws and defects in products, and other risk factors detailed in reports filed with the Securities and Exchange Commission from time to time.
CONTACT
In the U.S. ICR, Inc. Ashley Ammon MacFarlane
203 682 8208
DATASOURCE: American Dairy, Inc.
CONTACT: Ashley Ammon MacFarlane of ICR, Inc., +1-203-682-8208 Web site: http://www.americandairyinc.com/ http://www.feihe.com/
|